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Jan 31, 2024 | 
taxjournal.com | Gordon W Buist |David Whiscombe |Zoe Andrews |Jenny Doak
Home >Articles > Incorporation relief and ESC D32: a myriad of uncertainty Incorporation relief and ESC D32: a myriad of uncertainty © Copyright LexisNexis 2024. All rights reserved. 31 January 2024 Speed read The publication of Spotlight 63 and several articles published by Tax Policy Associates on landlord tax planning schemes have exposed a fundamental flaw with incorporation relief from CGT.
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Nov 24, 2023 | 
taxjournal.com | George Gillham |David Whiscombe |Jonathan Athow |Gordon W Buist
At Autumn Statement 2023 the UK government announced that, from 2024/25 onwards, the cash basis will be the default method for calculating business profits for self-employed traders and those in partnerships. The accruals basis will still be available, but businesses will have to opt in, in a reversal of the current position.
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Nov 24, 2023 | 
taxjournal.com | George Gillham |David Whiscombe |Jonathan Athow |Gordon W Buist
Hidden away in the detail of the measures, and in line with the government’s objective to simplify tax administration, the £150,000 threshold for individuals with income taxed only through PAYE to file a self-assessment tax return will be abolished altogether from the 2024/25 tax year. This change will remove the requirement for up to 338,000 taxpayers to submit a tax return.
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Nov 24, 2023 | 
taxjournal.com | George Gillham |David Whiscombe |Jonathan Athow |Gordon W Buist
Autumn Statement 2023: tax analysis © Copyright LexisNexis 2023. All rights reserved. 24 November 2023 Speed read Chancellor Jeremy Hunt delivered his Autumn Statement on 22 November 2023.
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Nov 24, 2023 | 
taxjournal.com | George Gillham |David Whiscombe |Jonathan Athow |Gordon W Buist
If you are not a subscriber, subscribe now to read this content. Alternatively, you can register free of charge to read a limited amount of subscriber content per month. Once you have registered, you will receive an email directing you back to read this article in full.
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Nov 24, 2023 | 
taxjournal.com | George Gillham |David Whiscombe |Jonathan Athow |Gordon W Buist
PensionsGovernment call for evidence on the long-term direction of workplace pension saving. Closes: 24 January 2024. Visual effects industryHM Treasury call for evidence on recent trends challenges and opportunities in the visual effects industry. Closes: 3 January 2024. Climate changeConsultation on proposals for a new six year climate change agreements scheme to begin in 2025. Closes: 14 February 2024.
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Nov 24, 2023 | 
taxjournal.com | George Gillham |David Whiscombe |Jonathan Athow |Gordon W Buist
In the ever-evolving landscape of R&D tax, the latest updates have been nothing short of a roller coaster with substantial reforms making headlines. The government’s commitment, as announced in yesterday’s Autumn Statement, to forge ahead with a unified scheme starting for accounting periods on or after 1 April 2024, suggests businesses need to buckle up for a continuous ride of legislative changes – allowing no respite.
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Nov 23, 2023 | 
taxjournal.com | George Gillham |David Whiscombe |Jonathan Athow |Gordon W Buist
Home >Articles > Insurance companies: structural assets
Insurance companies: structural assets
23 November 2023
The Insurance Companies (‘The Long-term Business Fixed Capital’) Regulations, SI 2023/1236, set out which assets of a company’s long-term insurance business are ‘structural assets’ and are therefore not treated as trading assets for tax purposes.
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Nov 23, 2023 | 
taxjournal.com | George Gillham |David Whiscombe |Jonathan Athow |Gordon W Buist
The UK government has published a bill to bring forward the changes to National Insurance contributions first announced at Autumn Statement 2023.
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Nov 23, 2023 | 
taxjournal.com | George Gillham |David Whiscombe |Jonathan Athow |Gordon W Buist
Home >Articles > Tax reliefs for special tax sites extended
Tax reliefs for special tax sites extended
23 November 2023
The UK government has launched a third investment zone in England, and has confirmed that the investment zones and freeport tax site programmes in England are to be extended from five to ten years. This means that the window to claim the tax reliefs will remain open until 30 September 2031, rather than 30 September 2026.
